This morning, the S&P 500 Index e-mini futures (ES-U3) are trading higher by 5.75 points to 1694.00 per contract. Traders and investors seem to be in a better mood before the opening bell. All of the major European stock indexes are trading higher signaling very little fear in the marketplace. The major problem for stocks is still coming from Asia. Last night, the important Nikkei 225 Index (Japan) declined by 1.58 percent. The Nikkei 225 Index has now dropped by over 5.50 percent over the past two trading sessions, this is not a sign of a healthy market. Traders should watch for early volatility in the WisdomTree Japan Hedged Equity Fund (NYSEARCA:DXJ), and the iShares MSCI Japan Index (ETF) (NYSEARCA:EWJ).